Top Funds Report – September 2012
Those who adhered to the old adage of selling in May and going away for the summer may have been sorry that they did. Global equity markets were again higher in August, their third month in a row of gains. This time around, it was Canadian equities leading the way higher, as our three main sectors, financials, energy, and materials, all enjoyed decent gains. The S&P/TSX Composite rose more than 2.4% in the month. The energy and financial sectors matched the gains of the broader index.
Read MoreTop Funds Report – August 2012
Global markets got a boost following the July 26 comments made by the European Central Bank’s president Mario Draghi. In his remarks, Mr. Draghi stated that the ECB would “do whatever it takes” to ensure that the Euro remained intact. Investors took this as a sign that the ECB would take immediate simulative action in an effort to shore up the European economies, bidding stock prices higher.
Read MoreTop Funds Report – July 2012
After a relatively tame first-quarter, volatility returned to the global equity markets with a vengeance, whipsawing stocks with a ferocity that was reminiscent of 2008. Despite a modest rally in June, the S&P/TSX Composite Index still lost 5.67% on the quarter. Global markets seemed to hold up a little better, with the S&P 500 shedding 1.0% and the MSCI EAFE Index dropping 5.0% during the quarter. Not surprisingly, fixed income fared well, gaining 2.2% as investors flocked to bonds on their safe haven appeal.
Read MoreTop Funds Report – June 2012
Whoever said that April was the cruelest month likely didn’t have any money invested in the global equity markets in May. Markets were hit particularly hard, with the MSCI EAFE Index dropping by more than 7% during the month. The S&P 500 lost 6% in U.S. dollar terms, while closer to home, the S&P/TSX Composite Index dropped by 6.1%.
Read MoreTop Funds Report – May 2012
After posting strong gains in the first quarter of the year, equity markets retreated in April as investor concerns over the European debt crisis returned. The MSCI Europe Index dropped by nearly 3% after credit ratings agencies downgraded Spain’s debt with a negative outlook, hinting that further rating cuts may be coming. Spain paid a heavy price for this downgrade with the MSCI Spain Index plummeting by more than 13% in the month.
Read MoreTop Funds Report – April 2012
For the past year, market sentiment has been dominated largely by the debt crisis that continues to boil over in Europe, causing fear and panic among investors. In the first quarter of 2012, this situation was merely simmering, allowing investors to focus on the economic recovery that appears to be well underway in North America
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